A LANDMARK hotel in Coventry city centre has been put up for sale again.

Travelodge in Broadgate, which was formerly the Leofric Hotel, has been put on the market along with five other Travelodge hotels around the UK.

The move is part of Travelodge’s financial restructuring plan to write off £700 million debts and offload 49 hotels.

The 120-room property is to be marketed for sale by specialist property adviser Chr-istie & Co on behalf of Picadilly Hotels.

It will be marketed on an individual basis with a view to selling with vacant possession.

Gavin Wright, director of hotels and licensed division for Christie & Co, said: “Given the strategic location of these Travelodge hotels and the potential for new operators to explore re-branding them in both budget and mid-market segments, we expect a great deal of competitive interest.”

In August, Travelodge, which owns more than 500 hotels across the UK, said it was also seeking for rent cuts at around 109 of its hotels as part of its controversial rescue deal.

At the time, bosses said there were no plans to close hotels or make job losses.

The Coventry Travelodge, which is the firm’s only hotel in the city, opened three years ago after the Leofric closed its doors in 2008.

Travelodge bought the historic hotel and spent £4 million to transform it by removing conference and banqueting facilities and adding a further 26 rooms.

Travelodge is the UK’s second biggest budget hotel chain behind Whitbread’s Premier Inn and reported a 20 per cent increase in profits last year to £55 million.

The group, which launched in 1985, claims to be the UK’s first budget hotel brand.

Other hotels going up for sale this month belonging to Travelodge are in Bath, Edinburgh, Newcastle, Oldham and Stevenage.

The Leofric in Coventry was one of the first hotels to be built in 1950 after the Second World War and became a symbol of Britain’s recovery.